US2008052211A1PendingUtilityA1

Method and system for protecting an investment of a life insurance policy

42
Individually held — no corporate assignee on recordPriority: Jun 14, 2006Filed: Jun 14, 2007Published: Feb 28, 2008
Est. expiryJun 14, 2026(expired)· nominal 20-yr term from priority
Inventors:Alan H. BuergerReid S. BuergerAlex Seldin
G06Q 40/08G06Q 40/06
42
PatentIndex Score
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Cited by
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References
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Claims

Abstract

A method and system for insuring against a potential loss in future value of a life insurance policy by providing a stated value insurance policy (“SV Policy”). The SV Policy is purchased by the owner of the life insurance policy contemporaneously with the purchase of the life insurance policy or at any time thereafter. If, at a specified future time(s), the life insurance policy is determined to be worth less than a predetermined value as set forth in the SV Policy, then the SV Policy issuer pays the owner the difference between the amount covered by the SV Policy and the then-current value, assuming that the owner has satisfied the terms and conditions of the SV Policy. In another aspect, a life insurance policy owner enters into an agreement (“Lifegain Agreement”) with a third party (“Lifegain Provider”) to protect against the possibility that the life insurance policy will lose value. The Lifegain Agreement is purchased by the owner of the life insurance policy contemporaneously with the purchase of the life insurance policy or at any time thereafter. If, at a specified future time(s), the life insurance policy is determined to be worth less than a predetermined projected value as set forth in the Lifegain Agreement, the Lifegain Provider may either purchase the life insurance policy for the projected value or pay the owner the difference between the projected value and the then-current value, assuming that the owner has satisfied the terms and conditions of the Lifegain Agreement.

Claims

exact text as granted — not AI-modified
1 . A method for attempting to reduce the risk of financial loss by a first party owner of a life insurance policy, comprising: 
 purchasing by said first party said life insurance policy;    entering by said first party with a second party into an Agreement that protects against a loss in expected value of said life insurance policy, said Lifegain Agreement including a projected value of said life insurance policy at a specified future time(s);    evaluating a then-current value of said life insurance policy at said specified future time(s); and    determining said loss in value being a difference between said projected value of said life insurance policy and said then-current value of said life insurance policy at said future date(s).    
     
     
         2 . The method of  claim 1 , further comprising the step of: 
 substantially satisfying by said first party, all conditions required of first party by said agreement.    
     
     
         3 . The method of  claim 2 , further comprising the step of: 
 providing by said first party to the second party a right to satisfy the second party's obligations under said agreement.    
     
     
         4 . The method of  claim 3 , wherein said second party satisfies its obligations under the said agreement providing by paying said first party substantially said loss in value.  
     
     
         5 . The method of  claim 3 , wherein said second party satisfies its obligations under the said agreement providing by purchasing said life insurance policy from said first party at substantially the projected value of said life insurance.  
     
     
         6 . The method of  claim 3 , further comprising the step of: 
 receiving by said first party offers to sell said life insurance policy.    
     
     
         7 . A method for attempting to reduce the risk of financial loss by a first party owner of a life insurance policy, comprising: 
 purchasing by said first party said life insurance policy;    purchasing by said first party from a second party an SV Policy for protecting against a loss in expected value of said life insurance policy, said SV Policy including an insured amount of said life insurance policy at a specified future time(s);    evaluating the then-current value of said life insurance policy at said future time(s); and    determining said loss in value being a difference between said covered amount under said SV Policy and said then-current value of said life insurance policy at said future time(s).    
     
     
         8 . The method of  claim 7 , further comprising the step of: 
 substantially satisfying by said first party, all conditions required of first party by said SV Policy.    
     
     
         9 . The method of  claim 8 , further comprising the step of: 
 providing by said first party to the second party a right to satisfy the second party's obligations under said agreement.    
     
     
         10 . The method of  claim 9 , wherein said second party satisfies its obligations under said SV Policy providing by paying said first party substantially said loss in value.  
     
     
         11 . The method of  claim 10 , further comprising the step of: 
 receiving by said first party offers to sell said life insurance policy.    
     
     
         12 . A computer system configured to implement a method for attempting to reduce the risk of financial loss by a first party owner of a life insurance policy, said method comprising the steps of: 
 purchasing by said first party said life insurance policy;    entering by said first party with a second party into an Agreement that protects against a loss in expected value of said life insurance policy, said Lifegain Agreement including a projected value of said life insurance policy at a specified future time(s);    evaluating a then-current value of said life insurance policy at said future time(s); and    determining said loss in value being a difference between said projected value of said life insurance policy and said then-current value of said life insurance policy at said future time(s).    
     
     
         13 . The computer system of  claim 12 , further comprising the step of: 
 substantially satisfying by said first party, all conditions required of first party by said agreement.    
     
     
         14 . The computer system of  claim 13 , further comprising the step of: 
 providing by said first party to the second party a right to satisfy the second party's obligations under said agreement.    
     
     
         15 . The computer system of  claim 14 , wherein said second party satisfies its obligations under the said Lifegain Agreement providing by paying said first party substantially said loss in value.  
     
     
         16 . The computer system of  claim 15 , wherein said second party satisfies its obligations under the said agreement providing by purchasing said life insurance policy from said first party at substantially the said projected value of said life insurance.  
     
     
         17 . The computer system of  claim 15 , further comprising the step of: 
 receiving by said first party offers to sell said life insurance policy.    
     
     
         18 . A computer system configured to implement a method for attempting to reduce the risk of financial loss by a first party owner of a life insurance policy, said method comprising the steps of: 
 purchasing by said first party said life insurance policy;    purchasing by said first party from a second party an SV Policy for protecting against a loss in expected value of said life insurance policy, said SV Policy including an insured amount of said life insurance policy at a specified future time(s);    evaluating the then-current value of said life insurance policy at said future time(s); and    determining said loss in value being a difference between said covered amount under said SV Policy and said then-current value of said life insurance policy at said future time(s).    
     
     
         19 . The computer system of  claim 18 , further comprising the step of: 
 substantially satisfying by said first party, all conditions required of first party by said SV Policy.    
     
     
         20 . The computer system of  claim 19 , further comprising the step of: 
 providing by said first party to the second party a right to satisfy the second party's obligations under said agreement.    
     
     
         21 . The computer system of  claim 20 , wherein said second party satisfies its obligations under the said agreement providing by paying said first party substantially said loss in value.  
     
     
         22 . The computer system of  claim 21 , further comprising the step of: 
 receiving by said first party offers to sell said life insurance policy.

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